Quantitative aptitude is the section where it is important to score well if you want to clear any competitive exam including SSC CGL 2020. Therefore, it is important to understand the concept of every topic and then practice it. In this article, we are going to discuss the topic "Partnership" with examples.
When two or more persons start a business and invest in it, they are called partners and the trade between them is called a partnership. In the questions asked in the exam, the amount invested and the time period it is invested for is given and you have to find the profit share of different partners. The question can be modified by changing the variables.
Some Important Points
- If the amount invested by different partners is for the same period, then the profit or loss incurred will be in the same ratio as the investment.
For example, if A and B invest amounts x and y respectively for a year, then the ratio of profit/loss of A and B will be x:y.
- If the amount is invested for a different time, then the equitable amount will be calculated by multiplying the amount and the time. For example, if A invests Rs. x for 4 months and B invests Rs. y for 6 months then total capital invested by A will be 4x and total capital invested by B will be 6y. The ratio of profit/loss A and B will be 4x:6y.
Let's take a couple of examples.
Ques: A invests Rs. 4000 and B invests Rs. 8000 in a business. If the profit is Rs. 3000 at the end of the year, what is the share of B?
(a) Rs. 1000
(b) Rs. 2000
(c) Rs. 3000
(d) Rs. 4000
Ans: (c)
Explanation: A:B = 4000:8000 = 1:2
Profit = Rs. 3000
B's share = (2/3) x 3000 = Rs. 2000
Ques: A invested Rs. 2000 in a business. B invested Rs. 4000 but left after 8 months. C joined after 6 months and invested Rs. 6000. What will be the ratio in which the profit will get divided?
(a) 2:3:4
(b) 6:8:9
(c) 6:8:11
(d) None of these
Ans: (b)
Explanation: A's total investment = Rs. 2000x12 = Rs. 24,000
B's total investment = Rs. 4000x8 = Rs. 32,000
C's total investment = Ra. 6000x6 = Rs. 36,000
Ratio of investment of A, B and C = 24,000:32,000:36,000 = Ratio of profit
Ratio of profit = 6:8:9
The questions asked in the exam will be similar to these with little variations. Practice a lot from a good reference book and attempt mock tests to familiarise yourself with the kind of questions asked in SSC CGL 2020. If you face any doubt, revise the concept again and practice a lot of questions. The more variety of questions you practice, the easier it will get for you. All the best!
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